The Kurdistan Regional Government (KRG) announced sizeable cuts to its bloated government payroll Wednesday, in response to a budget crisis that has brought the economy to the brink of collapse.The region’s Cabinet voted to slash the salaries of high-ranking government officials by 75 percent, and cut other government employees’ payroll by between 10 and 20 percent, according to a statement by the Cabinet office.“The sharp decline in global oil prices, from more than $100 to belo…